Millennials can be a fantastic market to sell your products and services too. Not only are they the largest generation since the Baby Boom, but they’re also about to enter their prime purchasing years. The term Millennials is usually considered to apply to individuals who reached adulthood around the turn of the 21st century – generally consisting of individuals born between 1980 and the early 2000s.
Millennials of course have different spending behaviours from their parents and grandparents, they tend to be more tech-savvy and research items they want to purchase in more detail than ever before. In addition, they tend to use several different sources of platforms to get their information, rather than using one marketing channel such as a brochure, they’ll search social media, watch videos, look for social proof and so on.
It’s estimated by the year 2020, Millennials will spend an enormous $1.4 trillion annually – that’s around 30% of all retail sales in the United States alone. As you can see for many companies and marketers this audience can be fruitful for generating leads, increasing sales or growing their general brand awareness.
It’s important to remember that strategies for marketing to Millennials are changing every day – due to the changes in technology, but with this set of fantastic tips you’ll be able to adapt quickly and keep one step ahead of your competition.
User Generated Content – User generated content can be an ideal marketing tactic for many businesses when targeting millennials, allowing your audience to share their experiences of your product and brand can only be a good thing – as it creates a sense of trust and value. As millennials conduct most of their purchasing online, they sometimes just need a little extra push before they take the final step and purchase from you. Typically, you’ll find the best user generated content on social media platforms such as Instagram, YouTube and Facebook.
With a visual format and over 300 million users, Instagram is a great way for seizing your customers’ personal experiences in a pleasing manner. One of the best ways to benefit from user generated content on Instagram is by reposting your customers’ photos. This process is mutually valuable for both you and your customers: Your customers will experience the excitement of seeing their photo on your news feed and get more exposure for their account, while you’ll start engaging with your audience on a more personal level and get an arrival of fresh content.
Typically, a good tip is to come up with a branded hashtag that your customers can use to show off their purchases. Make sure your hashtag is something short, snappy, and easy to remember. By giving your audience an outlet for their content, you’ll be able to gather product photos in one place and cultivate your very own online community. You can easily use a simple hashtag, such as your company name.
Equally did you know, customer photos can also give your conversion rates a good boost. When product pages feature photos from social media Millennial customers are 6 times more likely to make a purchase.
YouTube is also an extremely popular platform for Millennials. In fact, Millennials are now watching more video content on YouTube and other streaming platforms than they are on television. For most companies, a good way to get YouTube users to create more content around your brand is by capitalising in your product’s packaging to inspire customers to make unboxing videos.
Unboxing videos are a piece of user generated content that follows along as customers open up products for the very first time and share their initial impressions. Unboxing videos have become a significant part of the decision-making process for Millennials since 62% of people watching unboxing videos online are doing so while researching a purchase.
Influencer Marketing – As millennials love technology it
may come as no surprise that many of them trust “social media influencers” –
for example, it’s been stated that 60% of Millennials have said that they would
try a product suggested by a YouTuber.
Influencer marketing can also relate to blogs and other social media profiles too, many companies are attempting to get their products into the hands of the leading influencers to get better reach and influence on their target audience. Think of industries such as fashion and beauty or computers, games and so on – these now heavily rely on the influencer marketing model to succeed and increase their sales.
The key to influencer marketing is finding an influencer with an audience that is like your target audience. You should always conduct lots of research and refine your pitch before reaching out.
Of course, the standard method in which influencers deliver their content is through the use of video, however social media gives people a lot of other tools to use as well. For example, many are ultising the Lookbook formula, remember a lookbook is a collection of photographs compiled to show off a model, photographer, style, stylist, or clothing line. Usually, bloggers or vloggers will “model” fashionable looks for that month or season. This gives viewers ideas on how to style outfits, or to show what the latest fashions are.
Another promotional method they are using is favourites. “Favourites” videos simply alert their audience to a wide range of products they’re currently using. For example, influencers will list off their favourite items from the previous month or season, including many items which are sent to them by brands.
Equally lifestyle content also seems to be increasing in popularity, both for videos and images. Its not uncommon for influencers to “document” their adventures using a certain product. For example, if you’re selling bicycles, the influencer will showcase the lifestyle your brand is trying to portray to your customers. This could be using the bike at a local beach, riding up and down mountains and so on. Lifestyle is important because 78% of Millennials would rather purchase an experience than a product.
Live Streaming – Live streaming has exploded over the past couple of years and it remains a popular choice for millennials. Its popularity originally started with the streaming of video games on dedicated websites, however this is now crossed over too many different sectors.
The video game streaming website Twitch boasts 100 million viewers per month of which nearly 2/3’s are Millennials. The average user watches 106 minutes of live streaming per day and these types of figures are very similar to primetime television.
Apart from gaming, Facebook was the first social networking with a live streaming feature that was first rolled out to celebrities but is now being made available to everyone else. The popularity of streaming isn’t just about the latest events, parties or shows, even everyday things are becoming popular. For example, in January 2016, 20,000 people watched a puddle of mud in Newcastle, England live on the internet.
As you can see there’s real power behind live streaming and businesses can easy tap into this growing area of marketing. Businesses now have the chance to give their customers a close look inside their company and build stronger relationships with customers that are genuinely engaged in what they sell.
This can be anything from behind-the-scenes videos, to even showcasing your latest product. Of course, the type of streaming you do, will depend on your industry, so experiment and see what works well with your target audience.
Mobile Content – As you may expect, Millennials really are the mobile generation, particularly since 87% have their smartphones by their side every second of the day. For marketers and businesses, this means that the mobile is no longer an afterthought – it needs to be at the forefront of every single marketing strategy you plan.
Remember the popularity of smartphones means they’re becoming the main method in which people access the Internet, so you need to make sure that everything you do is optimized for every device. From your email campaigns to your website, every aspect of your business needs to be mobile-friendly.
Typically, the most common problem for mobile devices is slow loading times, not because of the phones themselves, the issues are normally because of a slow website server. Did you know, if a website takes longer than 3 seconds to load, 40% of visitors will head elsewhere. Some websites are filled with content and scripts which are simply not needed, all of the additional elements can easily slow down your website. An easy way to check how quickly your site is loading is by running it through Google PageSpeed Insights. This is a great tool that will let you know exactly how accessible your site is, as well as giving you advice for improving your load times.
If you own a physical store then mobile friendliness is just as important, remember before customers even enter your store, they’ll usually try to find you on their smartphone first. Did you realise that around 50% of users search for a local business on their phone? That’s huge when you think about it. Even when people are in your store, mobile optimization still makes a huge difference to whether you make a sale or not. 82% of customers now check their smartphones for more information before making a purchase in-store, which means your whole business needs to be mobile friendly as they can easily purchase from a competitor at a few clicks of a button.